Bi-Lo files for bankruptcy protection

Bi-Lo stores apparently won’t close as the result of the filing, made in U.S. Bankruptcy Court in South Carolina.

The company, based in Mauldin, S.C., operates stores at 1041 Franklin Springs St. in Royston and 709 Lower Heard St. in Elberton.

Bi-Lo management said in a statement that in a normal credit environment it would expect to refinance the loan on “reasonable terms in the ordinary course of business” as its maturity date approaches. But company executives determined the company should file for bankruptcy protection in order to continue operating in the tight credit market.

Details of the credit agreement terms were not immediately available, but the company has met all the loan’s terms so far, according to the statement.

In addition to the two Bi-Lo stores in Northeast Georgia, the company operates 213 groceries in Georgia, South Carolina, North Carolina and Tennessee.